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Taylor Energy Agrees to Pay $43 Million in Settlement over U.S.’s Longest-Ever Oil Spill

HeadlineDec 23, 2021

The Justice Department said Louisiana-based Taylor Energy has agreed to pay $43 million in damages and turn over a $432 million clean-up trust fund for an oil leak in the Gulf of Mexico that has been spilling since 2004. The leak started after Hurricane Ivan caused a 40-story oil-drilling platform to collapse. Taylor Energy also agreed to drop legal challenges to government clean-up orders over the longest-running spill in U.S. history, though it will not have to admit liability as part of the settlement. A federal judge still has to approve the deal.

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